Just two hours north of Los Angeles, a town called Taft, produces 144m barrels of oil a year, the second highest output of any county in America. Since 1910, the geopolitics of energy—usually defined as the impact of energy flows on the power and influence of nations—has been mostly about the world’s thirst for oil. This report looks at the energy transition from the perspective of America, the EU and China as well as petrostates such as Russia and Saudi Arabia.